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For October 10, 2023, the AUD/USD forecast - Forex Trading

For October 10, 2023, the AUD/USD forecast

1. The Australian dollar experienced a rally, breaking through the significant resistance level at 0.6388 and the balance line on the daily chart.

2. The price is approaching the MACD line at 0.6470, and indications suggest that it will surpass this level due to strong convergence with Marlin pushing the price higher.

3. The primary resistance level is seen at 0.6514, which marks the upper band of a sideways trend between 0.6388 and 0.6514. A break above this level would pave the way for further growth towards 0.6612.

4. On the 4-hour chart, the price has consolidated above both indicator lines, and the Marlin oscillator has gained upward momentum after reversing from the trendline.

 

The price of the Australian dollar is currently on an upward trajectory, showing signs of rallying and breaking through resistance levels, indicating a potential increase in value.

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